Malibu Boats, the Loudon, Tenn.-based maker of watersports towboats, is the latest area company to go public.
The boat maker has set its IPO price at $14 per share and is scheduled to start trading today on the Nasdaq market under the symbol MBUU.
The company is looking to raise more than $100 million.
With the economy gaining strength and consumer confidence improving, Malibu’s timing looks good.
After toughing out the Great Recession, Malibu has seen its earnings rise in recent years as it has rolled out a number of new products. Malibu’s wakeboarding Surf Gate technology received its second patent last September.
Raymond James and Wells Fargo Securities are acting as joint book-running managers for the offering. SunTrust Robinson Humphrey and BMO Capital Markets are acting as co-managers.
Click here for more on Malibu from Seeking Alpha.
Click here for a Wall Street Journal Marketwatch report on Malibu.
Alcoa Inc. Location Manager Ken McMillen, left, Sen. Lamar Alexander, Alcoa CEO Klaus Kleinfeld, U.S. Rep. John J. Duncan Jr., and Gov. Bill Haslam arrive for a groundbreaking for a $275 million expansion of the Alcoa Inc. rolling mill to produce automotive sheet aluminum on Thursday, Aug. 29, 2013, in Alcoa. (Paul Efird/News Sentinel)
The news hasn’t been good this week for aluminum manufacturer Alcoa Inc.
It’s stock price is tumbling, a Duetsche Bank analyst downgraded the stock to sell and forecasters were predicting aluminum prices would fall 12 percent or more over the next two years.
All this on the heels of Alcoa being booted last month from the Dow Jones Industrial Average.
The future of Alcoa, which recently announced plans for a $275 million expansion of its Blount County manufacturing operation, will have a significant impact on the East Tennessee economy. The company is investing in a plant upgrade in a move to take advantage of rising demand for aluminum by auto makers.
Alcoa will kickoff earnings season with the release of its quarterly financial report on Tuesday.
Given recent headlines it will be interesting to see how the company performed last quarter and its outlook for the near future.
Deutsche Bank analyst Jorge Beristain told Forbes the company should spin-off its primary metals business to ease its cash-flow problems.
Click the headlines below for more details: CNNMoney: Alcoa CEO on debt ceiling Motley Fool: Why Alcoa doesn’t seem so shiny Forbes: Alcoa’s $1.2 Billion Drag: Analyst Makes Case For Breakup
Scripps Networks Interactive announced Thursday it would pay a quarterly dividend of 15 cents per share on Sept. 10, to shareholders of record on Aug. 30.That’s unchanged from the dividend paid the previous quarter.
Scripps Networks will report its second-quarter operating results before the market opens on Aug. 8. A conference call with analysts will follow at 10 a.m.
Scripps shares were down slightly in morning trading on Friday at $72.14, but are up more than 20 percent since the first of the year.
The Knoxville-based lifestyle media company’s portfolio includes cable channels HGTV, Food Network, Cooking Channel, Travel Channel, DIY Network, Great American Country and related Internet brands.
Photo: Scripps Networks Interactive headquarters in West Knoxville.
After a disappointing first-quarter, Regal Entertainment Group’s second-quarter is looking much improved thanks to a string of blockbusters like “Iron Man 3,” “Star Trek: Into Darkness,” “The Great Gatsby” and others.
Summer ticket sales are up sharply from a year ago — about 14 percent, according to a report by The Wall Street Journal’s Marketwatch web site.
And when admissions are up that means the Knoxville-based theater operator is selling more popcorn, soda, candy and other high-margin concessions.
Regal reported a first-quarter profit of $22.5 million, a 51 percent drop from the 2012 1Q.
The 2013 second-quarter should be much improved.
“As measured from the first weekend of May through July 1, the 2013 year-to-date summer movie season has generated more than $2.4 billion in gross box-office receipts according to data compiled by Boxofficemojo.com. That’s up nearly 14% from 2012’s result and is the first double-digit year-over-year gain since 2002. And the season isn’t out of steam yet, with upcoming titles like “The Wolverine,” “Elysium” and “Pacific Rim,” Marketwatch reported.
Click here for the Marketwatch report comparing Regal and competitor Cinemark.
Scripps Networks Interactive headquarters in Knoxville.
Analysts are expecting solid revenue growth and improved earnings when Scripps Networks Interactive reports first quarter results on Thursday.
Increased advertising and strong ratings are driving growth at the Knoxville-based lifestyle media company, according to Investors.com.
“Based on positive undertones from advertisers as well as recent ratings
strength, we expect ad revenue to accelerate throughout the year,”
Macquarie Capital analyst Amy Yong said in a report quoted by Investors.com.
Boat sales declined, but Brunswick Corp. still had a strong first quarter.
The parent company of Knoxville-based Sea Ray Boats and Brunswick Boat Group reported earnings from continuing operations of $54.9 million, or 59 cents per diluted share. That was up from $47 million, or 51 cents per diluted share in the first quarter of 2012.
Excluding discontinued operations, the company said it earned 76 cents per diluted share, an increase of 24 cents from the prior year.
Investors are rewarding Scripps Networks Interactive strong second quarter results. The lifestyle media company’s stock is trading above its 52-week high today reaching as high as $58.64 before easing back to just below $58.
The Knoxville-based company said last week that earnings for the quarter rose to $142 million, or 93 cents per share, easily beating analysts expectations.
Scripps Networks Interactive second quarter earnings were better than expected, boosted by double-digit increases in advertising and affiliate fees.
Earnings from continuing operations attributable to Scripps Networks Interactive increased to $142 million, or 93 cents per diluted share, up from $77.4 million,or 78 cents per share in the same period a year ago, the Knoxville-based lifestyle media company said Thursday.